13132 Federal Register / Vol. 89, No. 35 / Wednesday, February 21, 2024 / Notices 

1 15 U.S.C. 78s(b)(1). 

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See Securities Exchange Act Release No. 95498 

(August 12, 2022), 87 FR 50906, 50906–07 (August 

18, 2022) (SR–NYSE–2022–37) (Notice of Filing and 

Immediate Effectiveness of Proposed Rule Change 

To Adopt a New Rule 7.39 and Delete Current Rules 

900–907). Rules 900 through 907 governing offhours trading activity on the Exchange were deleted 

when Rule 7.39 was adopted. See id. 

5On June 30, 2023, the Exchange announced that 

it would cease offering CS II and decommission the 

Off-Hours Trading Facility on December 29, 2023. 

On August 3, 2023, the Exchange announced that 

it would cease offering CS II and decommission the 

Off-Hours Trading Facility on January 31, 2024. 

6 15 U.S.C. 78f(b). 

7 15 U.S.C. 78f(b)(5). 

8 15 U.S.C. 78s(b)(3)(A)(iii). 

9 17 CFR 240.19b–4(f)(6). 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–99533; File No. SR–NYSE– 

2024–06] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Delete 

Current Rule 7.39 

February 14, 2024. 

Pursuant to section 19(b)(1) 1 of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’),2 and Rule 19b–4 thereunder,3

notice is hereby given that on February 

6, 2024, New York Stock Exchange LLC 

(‘‘NYSE’’ or the ‘‘Exchange’’) filed with 

the Securities and Exchange 

Commission (the ‘‘Commission’’) the 

proposed rule change as described in 

Items I and II below, which Items have 

been prepared by the self-regulatory 

organization. The Commission is 

publishing this notice to solicit 

comments on the proposed rule change 

from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to delete 

current Rule 7.39 governing Off-Hours 

Trading. The proposed rule change is 

available on the Exchange’s website at 

www.nyse.com, at the principal office of 

the Exchange, and at the Commission’s 

Public Reference Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

self-regulatory organization included 

statements concerning the purpose of, 

and basis for, the proposed rule change 

and discussed any comments it received 

on the proposed rule change. The text 

of those statements may be examined at 

the places specified in Item IV below. 

The Exchange has prepared summaries, 

set forth in sections A, B, and C below, 

of the most significant parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes delete current 

Rule 7.39 governing Off-Hours Trading. 

The Exchange adopted Rule 7.39 in 

2022 in order to continue offering an 

off-hours trading facility known as 

Crossing Session II (‘‘CS II’’) pursuant to 

an updated and streamlined rule that 

reflected Pillar terminology.4 Rule 7.39 

permits NYSE member organizations to 

enter aggregate-price coupled orders for 

securities, defined as orders to buy or 

sell a group of securities that have a 

total market value of $1 million or more 

and that are comprised of 15 or more 

securities listed or traded on the NYSE, 

which includes UTP securities. 

In 2023, the Exchange determined to 

cease offering an after-hours crossing 

session and decommission the OffHours Trading Facility, effective January 

31, 2024. The Exchange announced the 

implementation date by Trader Update.5

In connection with the effective 

decommissioning of the Off-Hours 

Trading Facility, the Exchange proposes 

to delete Rule 7.39 in its entirety. 

2. Statutory Basis 

The proposed rule change is 

consistent with section 6(b) of the Act,6

in general, and furthers the objectives of 

section 6(b)(5),7 in particular, because it 

is designed to prevent fraudulent and 

manipulative acts and practices, to 

promote just and equitable principles of 

trade, to foster cooperation and 

coordination with persons engaged in 

facilitating transactions in securities, to 

remove impediments to, and perfect the 

mechanism of, a free and open market 

and a national market system and, in 

general, to protect investors and the 

public interest. 

Specifically, the Exchange believes 

that deleting Rule 7.39 following the 

decommissioning of the Off-Hours 

Trading Facility would foster 

cooperation and coordination with 

persons engaged in facilitating 

transactions in securities and would 

remove impediments to and perfect the 

mechanism of a free and open market 

and a national market system by 

deleting obsolete rules, thereby adding 

clarity, transparency and consistency to 

the Exchange’s rulebook. By making the 

proposed change, the Exchange would 

ensure that its rules are consistent with 

the existing functionality offered by the 

Exchange, thereby promoting clarity and 

transparency in its rules. The Exchange 

believes that the change would not be 

inconsistent with the public interest and 

the protection of investors because 

investors will not be harmed and in fact 

would benefit from the increased clarity 

and transparency that the change would 

introduce, thereby reducing potential 

confusion. 

The Exchange further believes that the 

proposed rule change would remove 

impediments to and perfect the 

mechanism of a free and open market 

and a national market system and, in 

general, protect investors and the public 

interest, because it would remove any 

potential confusion among market 

participants that may result if the 

Exchange retained rules governing its 

Off-Hours Trading Facility after the 

Exchange decommissioned it. 

For the foregoing reasons, the 

Exchange believes that the proposal is 

consistent with the Act. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. Specifically, 

the Exchange believes that 

decommissioning its Off-Hours Trading 

Facility would not impose any burden 

on competition that is not necessary or 

appropriate in furtherance of the 

purposes of the Act. The Exchange 

further believes that the proposed rule 

change would not impose any burden 

on competition that is not necessary or 

appropriate because the proposed 

change is designed to promote clarity 

and consistency, thereby reducing 

burdens on the marketplace and 

facilitating investor protection. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The Exchange has filed the proposed 

rule change pursuant to section 

19(b)(3)(A)(iii) of the Act 8 and Rule 

19b–4(f)(6) thereunder.9 Because the 

proposed rule change does not: (i) 

significantly affect the protection of 

investors or the public interest; (ii) 


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Federal Register / Vol. 89, No. 35 / Wednesday, February 21, 2024 / Notices 13133 

10 15 U.S.C. 78s(b)(3)(A). 

11 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6) requires a self-regulatory organization to give 

the Commission written notice of its intent to file 

the proposed rule change, along with a brief 

description and text of the proposed rule change, 

at least five business days prior to the date of filing 

of the proposed rule change, or such shorter time 

as designated by the Commission. The Exchange 

has satisfied this requirement. 

12 17 CFR 240.19b–4(f)(6). 

13 17 CFR 240.19b–4(f)(6)(iii). 

14For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition, 

and capital formation. See 15 U.S.C. 78c(f). 15 15 U.S.C. 78s(b)(2)(B). 16 17 CFR 200.30–3(a)(12), (59). 

impose any significant burden on 

competition; and (iii) become operative 

prior to 30 days from the date on which 

it was filed, or such shorter time as the 

Commission may designate, if 

consistent with the protection of 

investors and the public interest, the 

proposed rule change has become 

effective pursuant to section 19(b)(3)(A) 

of the Act 10 and Rule 19b–4(f)(6)(iii) 

thereunder.11

A proposed rule change filed under 

Rule 19b–4(f)(6) 12 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b4(f)(6)(iii),13 the Commission 

may designate a shorter time if such 

action is consistent with the protection 

of investors and the public interest. The 

Exchange has asked the Commission to 

waive the 30-day operative delay so that 

the proposal may become operative 

immediately upon filing. 

The Exchange has represented that it 

no longer offers an after-hours crossing 

session and has decommissioned its offhours trading facility. The Exchange 

asserts that permitting the rule filing to 

become operative immediately would 

thereby alleviate potential investor or 

market participant confusion that could 

result from the Exchange retaining 

obsolete rules on its rulebook relating to 

functionality the Exchange no longer 

offers. 

The Commission agrees that retaining 

the rule text in the Exchange’s rulebook 

may create investor confusion about the 

availability of off-hours trading on the 

Exchange. Accordingly, the Commission 

believes that waiver of the 30-day 

operative delay is consistent with the 

protection of investors and the public 

interest. Accordingly, the Commission 

hereby waives the 30-day operative 

delay and designates the proposal 

operative upon filing.14

At any time within 60 days of the 

filing of such proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. If the 

Commission takes such action, the 

Commission shall institute proceedings 

under section 19(b)(2)(B) 15 of the Act to 

determine whether the proposed rule 

change should be approved or 

disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

comment form (https://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include file number SR– 

NYSE–2024–06 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street NE, 

Washington, DC 20549–1090. 

All submissions should refer to file 

number SR–NYSE–2024–06. This file 

number should be included on the 

subject line if email is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

internet website (https://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for website viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE, 

Washington, DC 20549, on official 

business days between the hours of 10 

a.m. and 3 p.m. Copies of the filing also 

will be available for inspection and 

copying at the principal office of the 

Exchange. Do not include personal 

identifiable information in submissions; 

you should submit only information 

that you wish to make available 

publicly. We may redact in part or 

withhold entirely from publication 

submitted material that is obscene or 

subject to copyright protection. All 

submissions should refer to file number 

SR–NYSE–2024–06 and should be 

submitted on or before March 13, 2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.16

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–03449 Filed 2–20–24; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

[FAA–2024–0396] 

Agency Information Collection 

Activities: Requests for Comments; 

Clearance of Renewed Approval of 

Information Collection: Reduced 

Vertical Separation Minimum 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Notice and request for 

comments. 

SUMMARY: In accordance with the 

Paperwork Reduction Act of 1995, FAA 

invites public comments about our 

intention to request the Office of 

Management and Budget (OMB) 

approval to renew an information 

collection. Aircraft Operators seeking 

specific operational approval to conduct 

Reduced Vertical Separation Minimum 

(RVSM) operations must submit 

application to the FAA. Specific 

approval is required when aircraft 

operators intend to operate outside the 

United States (U.S.) or their aircraft are 

not equipped with Automatic 

Dependent Surveillance—Broadcast 

(ADS–B) Out. 

DATES: Written comments should be 

submitted by April 22, 2024. 

ADDRESSES: Please send written 

comments: 

By Electronic Docket: 

www.regulations.gov (Enter docket 

number into search field). 

By mail: Christopher A. Mitchell, 

Federal Aviation Administration (FAA), 

Flight Technologies and Procedures 

Division, 6500 S McArthur Blvd., 

Building 26, Suite 217, Oklahoma City, 

OK 73169. 

By fax: 202–267–5230. 

FOR FURTHER INFORMATION CONTACT: 

Christopher A. Mitchell by email at: 

Christopher.a.mitchell@faa.gov; phone: 

954–758–1564. 

SUPPLEMENTARY INFORMATION:


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